Private Bancorp of America, Inc. (OTCMKTS:PBAM) Sees Large Increase in Short Interest

Private Bancorp of America, Inc. (OTCMKTS:PBAM) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 304 shares, a growth of 30,300.0% from the May 14th total of 1 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 4,013 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PBAM. DA Davidson upped their target price on Private Bancorp of America from $80.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 20th. Zacks Research raised shares of Private Bancorp of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Brean Capital began coverage on Private Bancorp of America in a research note on Thursday, April 16th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $88.00 price target (up from $77.00) on shares of Private Bancorp of America in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $86.33.

Private Bancorp of America Trading Up 0.7%

OTCMKTS:PBAM opened at $72.69 on Wednesday. Private Bancorp of America has a 12-month low of $53.25 and a 12-month high of $78.53. The firm has a market capitalization of $415.06 million, a P/E ratio of 10.10 and a beta of 0.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day simple moving average of $72.12 and a 200 day simple moving average of $65.10.

Private Bancorp of America (OTCMKTS:PBAM) last released its quarterly earnings data on Friday, April 17th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.32. The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $31.99 million. Private Bancorp of America had a return on equity of 16.12% and a net margin of 24.01%. Equities research analysts predict that Private Bancorp of America will post 8.21 EPS for the current year.

About Private Bancorp of America

Private Bancorp of America, Inc operates as the bank holding company for CalPrivate Bank that provides banking products and services to individuals and businesses in California. The company offers checking and savings, money market, certificate of deposit, sweep, zero balance, and individual retirement accounts; unsecured lines of credit, personal credit lines, and term loans; additional services, such as direct deposits, online banking, ATM and debit cards, credit cards, savings/line of credit overdraft protection, and safe deposit boxes; and certificate of deposit account registry services.